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Agenda - Council - 12/11/2018
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Agenda - Council - 12/11/2018
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3/17/2025 2:58:22 PM
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12/10/2018 3:07:48 PM
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Meetings
Meeting Document Type
Agenda
Meeting Type
Council
Document Date
12/11/2018
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receive pursuant to Section I4(c), to Escrow Agent for disbursement to <br />Seller arid others pursuant to this. Agreement and the Settlement <br />Statement; artd <br />ii. File or cause Escrow Agent to file an Electronic Certificate of Rea] Estate <br />Value, if required and necessary. <br />Closing Cots. <br />i. At Closing, the following Seller closing costs and expenses must be paid <br />from the Purchaser Price or, if the Purchase Price is not sufficient, paid by <br />Seller: <br />1. Seller's portion of the prorated property tars. <br />2. Seller's own attorney's fees. <br />3. One-half thecost of any closing fees, <br />4. The cost of real estate broker commission fees as prescribed in <br />Section 14. <br />ii. At Closing Buyer must pay the Purchase Price to Seller and the following <br />costs and expenses: <br />1. Buyer's portion of prorated property taxes. <br />2. Buyer's own attorney's fees. <br />3. One-half the cost ol'any closing fees, <br />4, Documentary and recording fees for the deed(s). <br />5. The cost of the owner's title insurance policy, if Buyer elects to <br />put- hase an Owner's title insurance policy. <br />6. State deed tax. <br />d. Possession. Seller must deliver possession of the Property to Buyer at Closing. <br />14. REAL ESTATE BROKERS. Seller and Buyer represent and warrant tc each other that <br />they have dealt with no brokers, real estate agents, finders or the like in connection with <br />this transaction, other than CBRE. lnc. ("Seller's's Broker"). which represents the Seller. <br />Seller shall pay Broker as required by their agreement (5% of final gross sale price), <br />Seller and Buyer agree to indemnify each other and to hold each other harmless against <br />all claims. damages. costs or expenses of or for any broker's fees or commissions <br />resulting for their actions or agreements regarding the execution or performance of this <br />Agreement, other than the fees payable to Seller's Broker, and will pay all costs of <br />defending any action or lawsuit brought to recover any such fees or commissions <br />incurred by the other party, including reasonable attorney's fees. <br />15. ASSIGNMENT. This Agreement may not be assigned without the written consent of <br />the noon -assigning Party. The Seller recognizes the Buyer intends to assign this <br />Agreement to an affiliated special purpose entity that will be registered officially with the <br />Page 8 of 11 <br />
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